Shares of International Business Machines Corp. (NYSE:IBM) saw an uptick in trading volume on Monday following a better than expected earnings announcement. 5,458,647 shares traded hands during mid-day trading, an increase of 76% from the previous session’s volume of 3,096,401 shares.The stock last traded at $154.77 and had previously closed at $154.45.

The technology company reported $3.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.24 by $0.05. International Business Machines Corp. had a net margin of 14.86% and a return on equity of 88.92%.

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald set a $162.00 price objective on shares of International Business Machines Corp. and gave the stock a “hold” rating in a research report on Saturday. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $147.00 price objective on shares of International Business Machines Corp. in a research report on Wednesday, October 12th. Credit Suisse Group AG reaffirmed an “underperform” rating and issued a $110.00 price objective on shares of International Business Machines Corp. in a research report on Wednesday, October 12th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $140.00 price objective on shares of International Business Machines Corp. in a research report on Saturday, October 8th. Finally, Societe Generale set a $160.00 price objective on shares of International Business Machines Corp. and gave the stock a “neutral” rating in a research report on Tuesday, September 27th. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have given a buy rating to the company. International Business Machines Corp. has an average rating of “Hold” and an average target price of $154.47.

In other International Business Machines Corp. news, insider Erich Clementi sold 6,000 shares of the firm’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $160.28, for a total value of $961,680.00. Following the sale, the insider now owns 25,100 shares of the company’s stock, valued at approximately $4,023,028. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robert J. Picciano sold 1,922 shares of the firm’s stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $159.16, for a total transaction of $305,905.52. Following the completion of the sale, the insider now directly owns 35,861 shares in the company, valued at approximately $5,707,636.76. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in IBM. Roble Belko & Company Inc boosted its stake in International Business Machines Corp. by 2.9% in the second quarter. Roble Belko & Company Inc now owns 674 shares of the technology company’s stock valued at $102,000 after buying an additional 19 shares in the last quarter. Thomas J. Herzfeld Advisors Inc. purchased a new position in shares of International Business Machines Corp. during the second quarter valued at about $105,000. Cypress Capital Management LLC WY purchased a new position in shares of International Business Machines Corp. during the second quarter valued at about $107,000. Jackson Grant Investment Advisers Inc. boosted its position in shares of International Business Machines Corp. by 0.7% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 726 shares of the technology company’s stock valued at $110,000 after buying an additional 5 shares during the period. Finally, Americafirst Capital Management LLC purchased a new position in shares of International Business Machines Corp. during the second quarter valued at about $120,000. 57.63% of the stock is currently owned by institutional investors and hedge funds.

The stock has a 50-day moving average of $156.85 and a 200 day moving average of $154.25. The stock has a market capitalization of $147.94 billion, a price-to-earnings ratio of 12.59 and a beta of 0.88.

About International Business Machines Corp.

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Global Technology Services (GTS), Global Business Services (GBS), Software, Systems Hardware and Global Financing. The Company’s GTS segment offers services, including strategic outsourcing, integrated technology services, cloud and technology support services (maintenance services).

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